DA Davidson Comments on WSFS Financial Co.’s Q2 2024 Earnings (NASDAQ:WSFS)

WSFS Financial Co. (NASDAQ:WSFS) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for WSFS Financial in a report issued on Tuesday, April 30th. DA Davidson analyst M. Navas forecasts that the bank will post earnings of $1.07 per share for the quarter. The consensus estimate for WSFS Financial’s current full-year earnings is $4.20 per share. DA Davidson also issued estimates for WSFS Financial’s FY2024 earnings at $4.30 EPS and FY2025 earnings at $4.30 EPS.

WSFS Financial Stock Down 0.9 %

Shares of WSFS opened at $42.73 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 0.85. WSFS Financial has a one year low of $29.59 and a one year high of $47.97. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 9.54 and a beta of 1.03. The stock has a 50 day moving average price of $43.08 and a 200 day moving average price of $42.10.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The business had revenue of $251.10 million during the quarter, compared to analysts’ expectations of $247.57 million. WSFS Financial had a return on equity of 11.94% and a net margin of 20.73%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share.

Institutional Trading of WSFS Financial

Several large investors have recently added to or reduced their stakes in WSFS. Norges Bank purchased a new stake in WSFS Financial in the 4th quarter valued at $31,369,000. Franklin Resources Inc. lifted its stake in shares of WSFS Financial by 8.8% in the 4th quarter. Franklin Resources Inc. now owns 2,886,034 shares of the bank’s stock valued at $132,556,000 after purchasing an additional 232,508 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of WSFS Financial by 7,791.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,426 shares of the bank’s stock valued at $7,644,000 after purchasing an additional 164,317 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of WSFS Financial by 18.8% in the 3rd quarter. Brown Advisory Inc. now owns 822,433 shares of the bank’s stock valued at $30,019,000 after purchasing an additional 130,189 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of WSFS Financial by 169.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 205,025 shares of the bank’s stock valued at $9,417,000 after purchasing an additional 128,834 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, May 9th. WSFS Financial’s payout ratio is 13.39%.

About WSFS Financial

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.